Turner said: “Equity release is widely accepted as a highly valuable service and a safe way for people to use the equity stored in their property to help them achieve a better later life.

“The Council has a vital role to ensure the market grows safely by ensuring rigorously high standards are maintained within the industry; placing consumer protection at the heart of its activity; and, promoting the potential of housing equity to help meet the demographic and economic challenges facing the UK’s ageing society.

“I am very pleased to accept the council’s invitation to join the Board and I look forward to giving my full support.”

“David Burrowes, chairman of the Equity Release Council, said: “We are delighted to invite Paul to join the Board of the Equity Release Council.

“Paul’s knowledge and expertise will be invaluable to us as we work to ensure equity release plays an ever greater role to meet the challenge of ensuring effective later life funding.

“Just Group has been a long standing and valued member of the Council, and we are grateful to Paul’s predecessor on the board, Steve Kyle, for all he has contributed over the years.

“The board are very much looking forward to working with Paul as we lead the equity release sector in this time of significant growth, opportunity and challenge.”